Rocco Anthony Mongelli (CRD #2746703, Registered Representative, Hillsdale, New Jersey) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $10,000 and suspended from association with any NASD member in any capacity for 60 days. Without admitting or denying the findings, Mongelli consented to the described sanctions and to the entry of findings that he induced a public customer to purchase a security by promising to place a stop loss order on the shares purchase, but failed to place the promised stop loss order and, as a result, the client suffered monetary losses. The findings stated that Mongelli transmitted an electronic mail message to a prospective customer that contained misleading statements that made unreasonable and baseless predictions regarding potential return on the customer’s future investments.
The suspension in any capacity is in effect from January 2, 2007, through March 2, 2007. (NASD Case #E102003200301)

We take cases on a purely contingency fee basis against brokerage firms who employ brokers committing misconduct of this nature.  Please contact us for a free evaluation.